Short Interest in Forum Energy Technologies, Inc. (NYSE:FET … – MarketBeat
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Forum Energy Technologies, Inc. (NYSE:FET – Get Rating) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 243,900 shares, a growth of 6.4% from the November 15th total of 229,300 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average daily volume of 25,800 shares, the days-to-cover ratio is presently 9.5 days.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Friday, December 2nd.
Forum Energy Technologies Price Performance
Shares of Forum Energy Technologies stock traded up $0.13 on Friday, hitting $31.04. The company had a trading volume of 19,247 shares, compared to its average volume of 31,369. The business has a 50-day simple moving average of $27.34 and a 200-day simple moving average of $24.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.43 and a quick ratio of 1.05. The company has a market cap of $177.92 million, a PE ratio of -14.71 and a beta of 2.97. Forum Energy Technologies has a 52 week low of $14.71 and a 52 week high of $31.48.
Institutional Trading of Forum Energy Technologies
Large investors have recently added to or reduced their stakes in the business. Dorsey Wright & Associates bought a new stake in Forum Energy Technologies during the second quarter worth approximately $37,000. Northern Trust Corp acquired a new position in Forum Energy Technologies in the 1st quarter worth approximately $204,000. Citadel Advisors LLC acquired a new position in Forum Energy Technologies in the 2nd quarter worth approximately $281,000. State Street Corp boosted its stake in Forum Energy Technologies by 6.8% in the 1st quarter. State Street Corp now owns 15,996 shares of the oil and gas company’s stock worth $366,000 after purchasing an additional 1,022 shares during the period. Finally, Parian Global Management LP acquired a new position in Forum Energy Technologies in the 3rd quarter worth approximately $467,000. 46.51% of the stock is currently owned by institutional investors.
Forum Energy Technologies Company Profile
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Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction markets, including applications in oil and natural gas, renewable energy, defense, and communications.
Further Reading
- Get a free copy of the StockNews.com research report on Forum Energy Technologies (FET)
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